January 9, 2019

They aren’t the fanciest or trendiest restaurants around, but they aren’t to be missed. Business review website Yelp included six Arizona dining establishments on its 2019 list of the top 100 places to eat in the United States: Worth Takeaway, Kodo Sushi, Homer’s Smokehouse BBQ, Cocina Madrigal, Momo Bowl and Not Your Typical Deli.

Read The Full Article...

Even in this new year, “experiential” is likely to remain the buzzword for the retail industry. And the hot topic has sparked exponential interest in the real estate world, as well. Experiential retail is the term for activities — such as dining, exercise, theater, and services such as massages and hair styling — that can’t be done online, so they draw a consumer to a mall or shopping center.

Read The Full Article...

Employment in the Phoenix area grew 4.2 percent during 12-month period that ended Nov. 30, 2018 — the second highest percentage growth of all metros nationwide.

Read The Full Article...

Foreign interest in the Valley has increased The Phoenix area saw $2.6 billion worth of office assets change hands in 2018, but experts say there is still plenty of runway for prices to grow. Chris Marchildon, a vice president of CBRE Capital Markets, Institutional Properties in Phoenix, said 2018 was on par with what office […]

Read The Full Article...

In 2018, Phoenix’s fast-growing population, low cost of doing business and proximity to California and Mexico generated plenty of investor interest in warehouse and industrial facilities as nearly $2.2 billion in property traded hands, an all-time high for the market and an increase of approximately 65 percent from 2017.

Read The Full Article...

January 8, 2019

Sprouts Farmers Market said it will add a new store in east Mesa — one of nine new locations planned nationally during the second quarter of 2019.

Read The Full Article...

As the November 2018 not seasonally adjusted national construction unemployment rate fell 1.1 percent from a year ago to 3.9 percent, the construction industry employed 277,000 more workers nationally compared to November 2017, according to BLS statistics.

Read The Full Article...

When we talk Arizona business in 2019, we can forget about the five Cs of the state’s original economy — cattle, citrus, climate, copper and cotton. Today, the talk is emerging technology. Blockchain. FinTech. EdTech. Autonomous vehicles. Wearable technology.

Read The Full Article...

Vantage Data Centers, a leading provider of wholesale data centers in North America, has chosen Goodyear, Arizona to build a mega-scale data center campus. The 50 acre project will be located at the southeast corner of Van Buren Street and Bullard Avenue and will encompass three data center buildings and office space.

Read The Full Article...

Arizona ranked No. 23 among U-Haul’s annual list of growth states, according to the Phoenix-based moving company. That marks a 20-spot jump from 2017, when the Grand Canyon State landed at No. 43 on U-Haul’s list.

Read The Full Article...

January 7, 2019

Location is a huge factor when you’re job hunting. In some cases, it’s simple math—thanks to population size and the concentration of many industries in specific regions, there are typically more jobs in cities than in rural areas, and more jobs in big cities than in small ones. But according to a new WalletHub analysis of the best job markets

Read The Full Article...

State land sales topped $330 million during 2018, a huge surge fueled by increased developer interest in Valley projects in moves that also help provide more money for state schools. Sales through the Arizona State Land Department easily surpassed the $44 million achieved during 2017 and represented about 10 percent of all Valley

Read The Full Article...

Even with home prices and mortgage rates on the rise this year, dreams of owning a home are still alive and well. The only things that have changed, according to a new report, are the ideal locations. New data from Realtor.com’s 2019 top 10 markets report found that certain cities throughout the country are getting a record number of

Read The Full Article...

The Park Central Mall revitalization project has proved a goldmine for local history buffs, and now the buildings in the newly updated mixed-use development are receiving new names in another nod to the property’s rich heritage. Microfilm reels, news clippings, antique signage and old photos from the 1950s are among the many relics found

Read The Full Article...

Northwest Healthcare is planning the development of a 70-bed hospital near Houghton Road and Old Spanish Trail. The announcement is part of Northwest Healthcare’s “No Boundaries” strategy to increase access points to quality healthcare services for Tucson and surrounding communities. The plan is contingent upon approval of

Read The Full Article...

January 4, 2019

Although housing activity remains in a rut nationwide, local population and job growth is keeping Phoenix somewhat insulated from the national housing malaise. “Put bluntly, housing activity remains in a rut,” according to a December study published by UCLA Anderson Forecast and the UCLA Ziman Center for Real Estate. The study forecasts

Read The Full Article...

In the fourth quarter of 2018 the net lease market shifted away from favoring sellers and moved into a more neutral stance. That quarter, the spread between asking and closed cap rates was 31 basis points, the largest since the second quarter of 2017, according to a new report by The Boulder Group. Furthermore, it reported that the same spread for

Read The Full Article...

If you are looking for predictions for 2019 for the commercial real estate market, you aren’t alone. Here are my 10 CRE predictions for 2019. The industrial real estate market will continue to be the favored real estate sector with robust demand, growth and investor capital. This boom has been the result of strong economic growth, record consumer

Read The Full Article...

Glendale is trying something a little different for development with its newest stretch of freeway frontage. The West Valley city hasn’t always pulled off development around freeways well. In the 1980s, the city had more than five miles of freeway frontage along the yet-to-be-built Loop 101. It ended up with a massive

Read The Full Article...

Phoenix’s hopping Uptown Plaza shopping center has sold for $51.65 million. The center, home to restaurant Flower Child and retailer West Elm, was built in 1955 by Del Webb on nine acres at the northeast corner of Camelback Road and Central Avenue. It was revamped a few years ago by Vintage Partners. Phoenix-based Levine Investments, led by

Read The Full Article...

January 3, 2019

The current economic upswing will officially celebrate its 10th anniversary in the first quarter, which is prompting some in the commercial real estate industry to take a hard look at where the economy might be headed. A new report written by CCIM Economist K.C. Conway suggests that there could very well be a disruption ahead in commercial real estate

Read The Full Article...

Zev Hendeles, principal of Phoenix-based 3rd Ave Investments LLC, ended 2018 with a $32.8 million purchase of a multifamily complex, bringing the company’s total number of acquisitions to five for the year. He said he expects to buy another 600 to 800 apartments in 2019, which is in line with his goal of buying

Read The Full Article...

Urbanization is penetrating suburban markets, and retail centers are among the first to be hit. Retail centers and strip malls, which in general are being transformed or abandoned altogether, are transforming into community-oriented town centers. Institutional investors and developers are at the center of these transformations, working to

Read The Full Article...

Tides Equities LLC kicked off the new year with a $33.5 million acquisition of an apartment complex in north Phoenix on Jan. 2. The 316-unit Crossroads complex acquired by the Los Angeles-based company is at 2222 W. Beardsley Road and is 95 percent occupied, sitting right above metro Phoenix’s average occupancy rate of

Read The Full Article...

Dollar store chains are among America’s fastest-growing retailers, but their impact on the industry is coming under increased scrutiny. Nonprofit Institute for Local Self-Reliance reports that dollar stores are more prevalent than Walmart and McDonalds locations combined, and they feed more people than

Read The Full Article...